SM 7 TQM QUIZ 2

What is the primary purpose of a mission statement in an organization?

• To outline future aspirations

•  To communicate the reason for being

• To list core principles

• To analyze the competitive environment

Which of the following is NOT a step in the strategic management process?

• Environmental Scanning

• Strategy Formulation

• Strategy Implementation

• Financial Forecasting

What does the vision statement of an organization focus on?

• Current market position

• Operational procedures

• Future-oriented purpose and aspirations

• Daily management tasks

Which step in the strategic management process involves designing the organization's structure and distributing resources?

• Strategy Evaluation

• Environmental Scanning

• Strategy Formulation

• Strategy Implementation

What is the main purpose of environmental scanning in strategic management?

• To hire new employees

• To develop marketing strategies

• To collect and analyze information for strategic purposes

• To evaluate employee performance

Which of the following is NOT mentioned as a reason why strategic management is important?

•  Increases decision-making speed at a tactical level

• Improves employee engagement

• Makes hiring decisions easier

• Increases profit margins

What does the values statement of an organization typically contain?

• Financial goals

• Market analysis

• Core guiding principles

• Competitive strategies

Which phase of strategic management involves measuring performance and taking corrective actions?

• Strategy Formulation

• Environmental Scanning

•  Strategy Implementation

• Strategy Evaluation

what are the key elements in the strategic management process?

• Analyze, Formulate, Implement

• Plan, Manage, Track

• Scan, Strategize, Execute

• Vision, Mission, Values

What does the passage emphasize about planning in strategic management?

• Planning is more important than execution

• Planning should be done quarterly

• Planning is essential but meaningless without execution

• Planning is only necessary for large organizations